707,184 Shares in Gentex Corporation $GNTX Acquired by Danske Bank A S

Danske Bank A S acquired a new stake in Gentex Corporation (NASDAQ:GNTX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 707,184 shares of the auto parts company’s stock, valued at approximately $17,871,000. Danske Bank A S owned approximately 0.33% of Gentex at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Clearstead Advisors LLC grew its holdings in Gentex by 21.4% in the fourth quarter. Clearstead Advisors LLC now owns 2,479 shares of the auto parts company’s stock valued at $58,000 after purchasing an additional 437 shares during the last quarter. Gagnon Securities LLC boosted its position in shares of Gentex by 0.8% in the 4th quarter. Gagnon Securities LLC now owns 55,672 shares of the auto parts company’s stock worth $1,295,000 after buying an additional 458 shares in the last quarter. Crumly & Associates Inc. boosted its position in shares of Gentex by 3.7% in the 2nd quarter. Crumly & Associates Inc. now owns 13,291 shares of the auto parts company’s stock worth $336,000 after buying an additional 478 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in Gentex by 1.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 30,294 shares of the auto parts company’s stock valued at $662,000 after acquiring an additional 487 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Gentex by 0.3% in the 1st quarter. Sei Investments Co. now owns 196,776 shares of the auto parts company’s stock valued at $4,300,000 after acquiring an additional 521 shares during the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on GNTX. Wall Street Zen cut shares of Gentex from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. B. Riley Financial restated a “buy” rating and set a $29.00 price objective (up from $28.00) on shares of Gentex in a research report on Monday, April 27th. JPMorgan Chase & Co. reduced their target price on Gentex from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Freedom Capital cut Gentex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised Gentex from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.80.

Gentex Price Performance

Shares of NASDAQ GNTX opened at $23.59 on Friday. The company has a 50-day simple moving average of $24.32 and a 200-day simple moving average of $23.50. The company has a market cap of $5.02 billion, a PE ratio of 12.48 and a beta of 0.79. Gentex Corporation has a 12 month low of $20.48 and a 12 month high of $29.38.

Gentex (NASDAQ:GNTX) last announced its earnings results on Friday, July 24th. The auto parts company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $651.30 million for the quarter, compared to analyst estimates of $669.65 million. Gentex had a net margin of 15.50% and a return on equity of 16.78%. Gentex’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. On average, analysts anticipate that Gentex Corporation will post 2.04 EPS for the current year.

Gentex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 8th were issued a dividend of $0.12 per share. The ex-dividend date was Wednesday, July 8th. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. Gentex’s dividend payout ratio (DPR) is 25.40%.

Gentex Profile

Gentex Corporation (NASDAQ: GNTX) is a global technology company specializing in the design and manufacture of automotive and aerospace products. The company’s primary business centers on automatic-dimming rearview mirrors, advanced driver-assistance systems (ADAS), and camera-based driver monitoring technologies. In the automotive sector, Gentex supplies exterior and interior mirrors with integrated electronics, connectivity features, and safety capabilities to many of the world’s leading original equipment manufacturers (OEMs).